Topic: Buy Low, Sell High - page 15. (Read 3500 times)
During the month of March the panic in the financial market was much due to the wide spread of Corona virus, alot of countries were going into lockdown, meaning food stores were going to be closed, your favorite coffee shop won't be open, so everyone were just looking to get some cash, then buy and store as much food as possible, cause no shops will be open, there was extreme fear in the market which made alot people dump their bitcoin for fiat so that they can go for shopping, those who had "balls of steel" bought more bitcoins at cheaper rates, and indeed it has given them a huge profits in return, they are smart investors tho, buy low and sell high is just the basic principle of the market,but alot of newbies with less knowledge tend to the opposite.
This is the true mentality of each and every cryptocurrency user, whenever the price drops low automatically people's mind wavers out of panic. This is the reason why people always avoid to buy when the market is low and tend to buy when the market is bullish. Most of the traders prefer to make small earning out of the marginal fluctuation, while the people preferring long term holding go for low price buying.
It's easier said than done.
I bought bitcoin at 11K and sold them at 14.5K, that was a sweet profit but the price kept on increasing, I bought the coins again from all my money on 15.5K and again I'm in profit but still not sure should I buy more or sell. I'd better hold them for 18K or sell off if it goes below 15K, so that I won't loss if I don't have a profit.
I bought bitcoin at 11K and sold them at 14.5K, that was a sweet profit but the price kept on increasing, I bought the coins again from all my money on 15.5K and again I'm in profit but still not sure should I buy more or sell. I'd better hold them for 18K or sell off if it goes below 15K, so that I won't loss if I don't have a profit.
Investing in bitcoin at 3800$ and potentially selling it at 16500$ or even more is exactly how we want to play it and earn a big amount of profit investing in bitcoin.
But I guess most of the investors would hesitate to even invest in bitcoin is the market is just going down at a certain point, you would always have doubts that the market price of bitcoin is just gonna continue to fall apart plus tons of bad news and articles online that would discourage you. Only believers and experienced traders would be confident enough to invest and hold at that point. And then vice versa when the market price is pumping. For me, you just need to believe in bitcoin and ignore predictions.
Also, it's difficult to invest when you have so many wants, this is also my problem when I'm just getting started, we just want to spend our investment, sell it already not being patient, and then end up not getting a profit.
But I guess most of the investors would hesitate to even invest in bitcoin is the market is just going down at a certain point, you would always have doubts that the market price of bitcoin is just gonna continue to fall apart plus tons of bad news and articles online that would discourage you. Only believers and experienced traders would be confident enough to invest and hold at that point. And then vice versa when the market price is pumping. For me, you just need to believe in bitcoin and ignore predictions.
Also, it's difficult to invest when you have so many wants, this is also my problem when I'm just getting started, we just want to spend our investment, sell it already not being patient, and then end up not getting a profit.
Newbies just psychology cant buy anything on lows. They are waiting for hype and thats why they like to buy everything on hights
Buy low and sell high is the best strategy to earn profit in bitcoin trading wherein every traders are eyeing to have some profit, big or small. These also provides liquidity and volume for bitcoin that's why it's the most traded in the crypto market. People intends to ride the hype with every move and good news for bitcoin that ignites the fire to buy whatever the price it may. Every opportunities to buy low and sell high is a great example of being patient and a great trader.
People don't buy bitcoin when the price is low because they are afraid that it will not increase again but if the price are high they are all in panic buying because they are happy that bitcoin price is going to the moon and then they are expecting more and more about bitcoin price like now that they are hoping for it's value to reach six digit number which I think still impossible for now. But of course let's just wait and see because we really don't know what will be the future of bitcoin.
That is a trend in the market, people are following others to buy and sell. Only those who believe bitcoin will rise at a certain period have bought bitcoin when it was $3k. But humans nature tends to greedy and not be patient. Fomo create new highs, a good thing for whoever buys at a lower price, even if someone buys bitcoin at the current price then wait for $20k, still a good entry point to make a profit.
All I can say is that the circumstances are much more in the bulls favour so we might have an even bigger break-up. I mean:
1) Bitcoin is very scarce (supply is low)
2) People want to buy (demand is high)
3) People are greedy (they won't sell early)
Here you go. The perfect formula for an extended bull market.
1) Bitcoin is very scarce (supply is low)
2) People want to buy (demand is high)
3) People are greedy (they won't sell early)
Here you go. The perfect formula for an extended bull market.
This is a very human tendency. When things are doing well, they want to get in. When things are doing bad, they want out of it. That is the kind of attitude they are showing in their daily lives, even in Bitcoin. Or I mean the kind of attitude of the crowd, me included of course. That is why many of us are unlike the billionaires of this world. The billionaires are taking risks. While the rest are dumping with panic, they are acquiring with ease and cheap price.
We often want assurance. We want to buy while the price is increasing. This is I guess what is hindering us to gain big time.
We often want assurance. We want to buy while the price is increasing. This is I guess what is hindering us to gain big time.
This is just actually human nature on display. When there is that fear present in the market all over, many people are feeling that too, and so they are holding back from buying more Bitcoin but now that there is clearly a big excitement going on many people are joining the bandwagon. This trend is clearly showing us that most people are really don't have that investment savvy mindset as they are swayed by emotions and FOMO rather than a good analysis of the market. This thing can result into more loss just like what happened in 2017 and into 2018.
People tend to be overly enthusiastic and overly gloomy at times. I remember famous traders who kept saying that we have to go to 1k for the bear market to end, completely ignoring the fact that we were already at 80% loss in the 3k level. Their predictions basically pointed to a 95% loss of value and they dared to call themselves Bitcoin believers and people who are there for the long run. That said, 100k is not completely unrealistic if more institutional investors decide to allocate 1% in Bitcoin.
Indeed, at the time of yesterday, many predicted that the price movement in November could allow it to return to the price of $ 8600, but this was broken when PayPal agreed to cooperate with bitcoin.
Of course this is one of the things that has a significant impact on bitcoin price movements, coupled with the positive covid-19 vaccine which is likely to be applied in various countries.
People tend to be overly enthusiastic and overly gloomy at times. I remember famous traders who kept saying that we have to go to 1k for the bear market to end, completely ignoring the fact that we were already at 80% loss in the 3k level. Their predictions basically pointed to a 95% loss of value and they dared to call themselves Bitcoin believers and people who are there for the long run. That said, 100k is not completely unrealistic if more institutional investors decide to allocate 1% in Bitcoin.
Those who invested on March really have a really good profit now there's always a doubt when the price is low but when the price is high it's full of hopes.
Well that's most of the people thinking most of the time right now most of them are regretting about not investing before when the price is still low.
I'm not quite sure if it is too late now to invest on Bitcoin let's hope not so many people can still invest on it.
Well that's most of the people thinking most of the time right now most of them are regretting about not investing before when the price is still low.
I'm not quite sure if it is too late now to invest on Bitcoin let's hope not so many people can still invest on it.
As per CryptoWhale:
https://twitter.com/CryptoWhale/status/1327049480483508225
Really ironic and comedy to most, but this is the reality. At $3800, people are still not buying and looking for more dip, and majority are shouting that it is the end of bitcoin.
Fast track to November, the opportunity to scoop cheap bitcoin is no longer present, and yet everyone wanted to join the bandwagon and extremely bullish to even predict a six digits as the next all time high.
https://twitter.com/CryptoWhale/status/1327049480483508225
Really ironic and comedy to most, but this is the reality. At $3800, people are still not buying and looking for more dip, and majority are shouting that it is the end of bitcoin.
Fast track to November, the opportunity to scoop cheap bitcoin is no longer present, and yet everyone wanted to join the bandwagon and extremely bullish to even predict a six digits as the next all time high.
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